Stratex International

Full Stratex International profile here

Stratex International is an exploration and development company focusing on gold and high-value base metals. The company objective is to be a leading-edge and innovative explorer whilst creating revenue from gold and base metal production via well-managed joint-ventures.

 

Since formation, Stratex has rapidly amassed a portfolio of high-potential exploration licences in Turkey and Ethiopia, primarily focussed on gold.

 

Stratex says £7 million fundraising oversubscribed

Thursday, June 07, 2007 by proactiveinvestors.co.uk
Stratex International took advantage of a robust share price appreciation in the past two months to raise additional capital for its gold and base metal projects in Turkey. The company raised £7 million before expenses after placing 77.7 million shares at 9 pence per share.

It came as no surprise to observers that a large part of the capital will be used to fast track the company’s flagship projects at Inlice and Altintepe. Stratex also said it would fast track first phase drilling at the Muratdere porphyry copper-molybdenum-gold project with a five hold drill program.


David Hall, Executive Chairman of Stratex added, "We are delighted to have exceeded our initial #5 million target and are pleased to welcome new high-quality institutional investors to our shareholder base. The response from investors is a huge endorsement of our team's ability to deliver value. In a short time period, the Company has achieved a great deal: it has made a new generative discovery and, more importantly, it has recognized a potential new gold belt. These funds will allow Stratex to develop its portfolio by adding additional resources to its current 841,313 oz Au gold resource base as well as advance its extensive portfolio."

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All of the directors in Stratex participated in the fundraising, which according to the company had to be scaled back after considerable interest from institutional investors.

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Additional Information

Market:AIM
Sector:General Mining - Gold
EPIC:STI
Latest Price: 3.18p  (0.00%)
52-week High:4.63p
52-week Low:3.00p
Market Cap:9.11M

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